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Indonesia, U.S. agree on infrastructure finance agreement

Reuters logo Reuters 19/9/2020
Steven Mnuchin wearing a suit and tie: The third annual U.S.-Qatar Strategic Dialogue is held at the State Department in Washington © Reuters/ERIN SCOTT The third annual U.S.-Qatar Strategic Dialogue is held at the State Department in Washington

JAKARTA (Reuters) - Indonesia has signed an agreement with the United States to strengthen infrastructure financing through private sector investment, Indonesia's Finance Ministry and the U.S. Treasury Department said on Friday.

U.S Treasury Secretary Steven Mnuchin signed the agreement with Indonesia's Finance Minister Sri Mulyani Indrawati remotely on Friday, according to a statement posted on the U.S. Treasury Department's website.

Rahayu Puspasari, spokeswoman for Indonesia's Finance Ministry, said in a separate statement that the agreement would bolster the development of capital markets and financial instruments to "facilitate and reduce the barriers to private sector investment in infrastructure."

Puspasari added that the agreement would help improve asset recycling capacity, impact assessment for the financing already given, and credit enhancement.

"The engagement supports the broader U.S. Government Indo-Pacific Strategy by complementing ongoing efforts under the Enhancing Development and Growth through Energy (Asia EDGE) and the Infrastructure Transaction and Assistance Network (ITAN)," said the U.S. Treasury Department.

Sri Mulyani Indrawati holding a sign: Indonesia's Finance Minister Sri Mulyani Indrawati attends the World Economic Forum on ASEAN at the Convention Center in Hanoi © Reuters/Nguyen Huy Kham Indonesia's Finance Minister Sri Mulyani Indrawati attends the World Economic Forum on ASEAN at the Convention Center in Hanoi

(Reporting by Tabita Diela and Stanley Widianto; Editing by Michael Perry)

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